Asian defense stocks rose on Friday, as investors still watched geopolitical tensions unfolding, after the U.S. operation that seized the Venezuelan president Nicolás Maduro, and President Donald Trump made a new push for Greenland.
Shares of South Korean Hanwha Aerospace increased more than 11 percent. Poongsan surged upwards by over 6 percent, and Korea Aerospace rose 5 percent. Shares of Kawasaki Heavy Industries soared 2.29 percent in Japan, and IHI rose 2.14 percent. The regional markets were traded mixed.
According to data from the National Bureau of Statistics on Friday, China’s CSI 300 rose by 0.1 percent on Friday, as its December consumer prices increased by 0.8 percent compared with the same period a year ago.
The reading followed a 0.7 percent surge in November and matched expectations of economists in a Reuters poll. The December factory-gate prices fell 1.9 percent compared to 12 months ago, which is better than the expected 2 percent.
However, the Hang Seng Index in Hong Kong was flat. Japan’s benchmark Nikkei 225 is up 1.24 percent, while the Topix surged 0.62 percent.
Shares of Fast Retailing jumped more than 7 percent following the Japanese operator of Uniqlo stating its quarterly operating profit was up to one-third, and it raised its full-year forecast.
The company mentioned robust sales worldwide, which enabled it cover the effects of U.S. tariffs, in addition to its being on course for a fifth consecutive year of profit expansion, which was backed by improved sales in China and rapidly growing sales in North America and Europe.
Therefore, the Kospi of South Korea gained 0.67 percent, and the small-cap Kosdaq remained unchanged. The S&P/ASX 200 of Australia moved slightly below the flatline.
Rio Tinto stock fell more than five percent on the announcement of early-stage buyout discussions between the company and Glencore late on Thursday. An effective merger would result in a mining giant worth almost $207 billion.
Early Asian futures showed slight variation in U.S. equity futures before a critical report on December job figures and a possible U.S. Supreme Court decision on tariffs.
The Supreme Court might be able to make a decision on the legality of the tariffs imposed by President Donald Trump, which would affect the trade policy and the fiscal situation in the country.
In the U.S., the Dow Jones Industrial Average increased overnight, and the Nasdaq Composite fell under pressure as investors dumped technology shares.
The 30-stock Dow up 270.03 points, or 0.55 percent, and ended at 49,266.11. The tech-heavy Nasdaq slipped 0.44 percent and settled at 23,480.02.
The S&P 500 gained 0.01 percent and closed at 6,921.46. The information technology sector was the worst-performing sector among the 11 S&P 500, falling by 1 percent.
